What R$700,000 Buys You in Rio

RIO DE JANEIRO – Returning to our regular look at housing prices across different neighborhoods in Rio we offer a glimpse at five examples for R$700,000. Please keep in mind this information does not include the monthly condo fee (“condomínio”) and property tax (“IPTU”).

What not long ago would have bought you some of the best real estate in town now seems like a relatively trifling amount as prices continue to soar, but buyers can certainly expect to find some excellent properties in this bracket. (All prices are compiled from zap.com)

Leblon
Prices in Leblon are intimidating, and the beachfront road remains the most expensive square-meter in the whole continent. Looking away from the shore a little, however, will reap rewards, and while good deals are definitely few and far between, R$700,000 should be enough to get you a decent-sized, if not ultra-modern apartment.

Example: Coming in just over our price range at R$760,000 is this three bedroom apartment on Rua Jose Linhares. In one of the more popular parts of Leblon and three blocks away from the beach, it represents good value for a roomy 115 square meters, and has a small balcony looking out onto the street. The condominium charge is cheaper than most too, but just be wary that nearby Bracarense bar gets very busy and loud on weekends. You can view this listing here.

Ipanema
Though we featured Ipanema in our last feature, another few hundred thousand reais will certainly get you at least one extra bedroom, though sea views are still likely to be marginal.

Example: At R$700,000 this spacious apartment on Rua Gomes Carneiro is just moments from the beach and has undergone simple reformation to make it ready to move into, a factor not to be underestimated given the age of some of the local buildings. The not inconsiderable sum does, however, bring the owner a slender view of the sea and three bedrooms. You can view this listing here.

Ipanema competes with Leblon for the title of the most sought-after addresses in Rio, photo by Simon Robinson.

Gávea
Gávea’s star has been in ascension for some time now, with an enviable location for those who place accessibility above proximity to the Atlantic Ocean. New buildings, traditional apartment blocks and some delightful houses make up the real estate potential, and prices are by and large just behind those of nearby Leblon, giving you slightly more for your money.

Example: At R$690,000 for 105 meters square this apartment is by no means cheap, but does come fully refurbished and with an unusually low condominium fee of just R$170 per month. Three bedrooms and a small amount of outdoor space make it feel light and airy.You can view this listing here.

Botafogo
Botafogo feels constantly on the move, with two of the city’s main artery roads running through it, a metro station and sandwiched as it is between the Lagoa and the beach. The property market is similarly fluctuating and always has a huge variety on offer, making it difficult to identify a “typical” apartment or size due to the huge variety available.

Example: This apartment, for example, is perhaps unusually large for the price bracket at 140 square meters, with most hovering at around 110 square meters, but that does not mean you need to compromise on interior or location since the decoration is fresh and it is just moments from Botafogo Metro station. Three bedrooms, two of which open onto a large varanda, and a decent kitchen complete the package.

Laranjeiras
One of Rio’s more traditional neighborhoods, Laranjeiras real estate is currently being updated with several new buildings in construction where space is not at such a premium as in some parts of the city. It is also full of older apartment blocks too though, many of which offer considerably more interesting lay-outs and extra space than the economic new builds.

Example: Buying in tranquil Laranjeiras will get you considerably more than in many Zona Sul areas, and this is shown perfectly by this 150 square meter apartment three bedrooms, 24-hour security and a large outdoor area. The condominium fee is not cheap at over R$500, but you do get a playground, party room and sauna. You can view this listing here.

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The Rio Times is an English language publication dedicated to the English speaking foreign community in Rio de Janeiro and Brazil. Beyond keeping up with local events, The Rio Times will also cover issues of specific interest to foreign nationals here. Our mission is to provide the community with local information, and improve their understanding of the Cidade Maravilhosa and Brazil.